Economy, asked by Pillu1954, 1 year ago

What is the meaning of collateral ?????​

Answers

Answered by Himanshi0
2

Answer:

valuable property owned by someone who wants to borrow money, that they agree will become the property of the company or person who lends the money if the debt is not paid back:

Example:-

She used/put up her house as collateral for a loan.

Answered by nishika66
2

Answer:

something pledged as security for repayment of a loan, to be forfeited in the event of a default......

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